Sunday, February 5, 2023

Trinidad’s National Gas Company cops Gold Standard status for methane reporting

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The National Gas Company (NGC) of Trinidad and Tobago Limited (NGC) has disclosed its recent achievement of the Gold Standard status of reporting under the global Oil and Gas Methane Partnership 2.0 (OGMP 2.0).

This status is attained by companies with clearly elaborated targets to reduce methane emissions by 2025. It comes just one year after the company joined the OGMP community.

The OGMP is a multi-stakeholder global partnership to improve the accuracy and transparency of methane emissions reporting, which is key to methane mitigation in the oil and gas sector.

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Under the OGMP 2.0 framework, there are different tiers of reporting. To reach Gold Standard status of reporting, companies need to announce 2025 absolute reduction or near-zero intensity targets.

On the heels of the latest accomplishment, NGC President Mark Loquan said NGC is demonstrably intent on reducing methane emissions in its business operations, which in turn supports Trinidad and Tobago’s Nationally Determined Contributions (NDC) 2030 goals. Loquan said this involves setting clear targets, as well as leveraging the expertise of global partners to its benefit.

Loquan also said that NGC is working very closely with its non-operated joint ventures and other energy sector partners to reduce methane emissions locally.

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In conclusion, he added, “The OGMP’s assignment of Gold Standard status to NGC is an international acknowledgement of the work we have committed to do over the coming years to bring methane emissions down, to minimise our carbon impact and maximise the sustainability of the local natural gas sector.”

NGC’s achievement of Gold Standard status under the OGMP 2.0 was revealed in the second edition of the United Nations Environment Programme (UNEP) International Methane Emissions Observatory (IMEO) publication, An Eye on Methane.

This publication was launched at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC)— an influential gathering of oil, gas and energy experts hosted by the Abu Dhabi National Oil Company (ADNOC) on October 31, 2022.

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